Nigeria’s stockbrokers set to trade in UK, others

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By Chinenye Anuforo

Barring any unforseen circumstances,  stockbrokers in Nigeria may soon have the flexibility of trading in the United Kingdom and other countries following the special  training being organised by the Chartered Institute of Stockbrokers  (CIS) in collaboration with the Chartered Institute of Securities and Investment  (CISI) in the United Kingdom.

By the proposed two-pronged joint  training, slated for Friday, August, 10 to Friday,August 18 at the  Nigerian Stock Exchange, participants would be exposed to: Understanding Modern  Commodity Derivative and International Introduction to Securites and Investment Market. As part of the strategies to globalise the operations of the stockbrokers and other practitioners in the financial market, International Introduction to Securites and Investment Market (ISSI) is designed to prepare the participants to take examination for the CICI’s qualification, a major requirement for practising in all countries where CISI UK Is recognised.

 Also, ISSI offers candidates a broader economic environment in which the financial services industry operates and examines how an economic activity is determined and managed in different economic and political systems.

The Commodity Derivative training on its own is a high-impact programme that will equip participants with a comprehensive understanding of Commodity  Markets, Commodity Trading, Risk Management and Derivatives in relation to Agriculture,  Oil and Gas, Agro Allied Company, Finance and Energy both in international and local  perspectives. The Master Class interface  will address practical trading strategies techniques in various Commodity Markets, including agricultural production,  crude oil and  base.

Commenting on the initiative, the CIS’ President, Mr Oluwaseyi Abe said it was consistent with the Institute’s policy on capacity building  in line with the globalisation of the Nigeria’s Capital Market whereby  market regulators and operators should operate at global best practice.

Corroborating Abe, the Institute’s First Vice President, Mr Adedapo Adekoje noted that prominent on the list of participants were  Commodity Traders, Stockbrokers, Other Capital Market Practitioners,  Bankers, Finance Industry Regulators, Agriculture Entrepreneurs,  Gas Practioners, Lawyers, Accountants and  Insurance Practitioners.

One of the key facilitators is the Principal of London-based  Burr and Company, Mr Allan Burr, an internationally acclaimed trainer on Securities, commodities, derivatives, clearing and settlement, financial regulation, custody, Risk management and operations among others.

There are strong indications that many practitoners in the financial market have indicated interest in the joint training in view of its intrinsic values and as a quick win towards access to operating in several  jurisdictions. Meanwhile, the  CIS has  earlier signed a Memorandum of Understanding  (MOU) with CISI of the United Kingdom as part of the transformation of the Institute’s operations towards the global standard.

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